advertisement

Companies

Habib Bank deal lifts DTB market share to 6.4pc

DTB CEO Nasim Devji (left), directors Linus Gitahi, Ismail Mawji and chairman Abdul Samji during the Annual General Meeting (AGM) at Laico Regency on May 25, 2017. PHOTO | NMG
DTB CEO Nasim Devji (left), directors Linus Gitahi, Ismail Mawji and chairman Abdul Samji during the Annual General Meeting (AGM) at Laico Regency on May 25, 2017. PHOTO | NMG  

Diamond Trust Bank’s market share has risen to 6.44 per cent to be ranked the sixth largest lender in Kenya following the buyout of the local branch of Pakistani lender Habib Bank.

The Nairobi bourse listed bank had a market share of 6.1 per cent while Habib’s was 0.34 per cent as at December 2016, according to CBK data.

“DTB continues to grow and expand its footprint in Kenya and is expected to open a few more branches and state-of- the-art digital lobbies within this year,” the bank’s chief executive Nasim Devji said in a statement.

Despite the acquisition, DTB said customers of Habib Bank will continue to transact at its six branches countrywide. Rebranding and integrating Habib into DTB’s systems is expected to be complete in September.

advertisement